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Market Update: Austria Inflation Rate at Over 8-Year High
Austrias annual inflation rate jumped to 2.8 percent in May of 2021, from 1.9 percent in the previous month. It was the steepest increase in consumer prices since December of 2012, mainly attributed to a low base year in prices of fuel and energy. Thus, the strongest upward pressure came from prices of transports (5.3 percent vs 3.5 percent in April); followed by housing & utilities (3.0 percent vs 2.9 percent), driven mostly by higher rents. Other positive contributions came from prices in food & non-alcoholic beverages (1.8 percent vs 0.2 percent); household items & maintenance (2.9 percent vs 1.3 percent), primarily due to costlier home furniture; and clothing & footwear (2.4 percent vs 0.0 percent). On a monthly basis, consumer prices inched higher by 0.3 percent, rebounding from a 0.1 percent decline in the prior month. source: Statistics Austria [/s2If]
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